Atwood Oceanics, Inc. (ATW) Lifted to Buy at ValuEngine
Atwood Oceanics, Inc. (NYSE:ATW) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
ATW has been the subject of several other research reports. DNB Markets raised shares of Atwood Oceanics from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Clarkson Capital upgraded Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, May 12th. Zacks Investment Research upgraded Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Wednesday, July 12th. Jefferies Group LLC set a $10.00 target price on Atwood Oceanics and gave the stock a “hold” rating in a report on Wednesday, May 17th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $10.00 target price (up from $7.00) on shares of Atwood Oceanics in a report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Atwood Oceanics currently has an average rating of “Hold” and a consensus target price of $11.40.
Shares of Atwood Oceanics (ATW) traded down 2.58% on Thursday, reaching $6.04. 2,836,960 shares of the company’s stock were exchanged. The stock’s market cap is $485.97 million. The company’s 50 day moving average price is $7.60 and its 200-day moving average price is $8.86. Atwood Oceanics has a 52-week low of $6.00 and a 52-week high of $15.37.
Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $117.20 million during the quarter, compared to the consensus estimate of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The company’s quarterly revenue was down 48.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. Equities analysts forecast that Atwood Oceanics will post ($0.31) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ATW. BlackRock Inc. raised its position in Atwood Oceanics by 45,068.1% in the first quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock worth $91,235,000 after buying an additional 9,552,190 shares during the last quarter. CNH Partners LLC bought a new position in Atwood Oceanics during the second quarter worth $27,399,000. Dimensional Fund Advisors LP raised its position in Atwood Oceanics by 92.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,555,964 shares of the offshore driller’s stock worth $43,418,000 after buying an additional 2,188,009 shares during the last quarter. OxFORD Asset Management LLP raised its position in Atwood Oceanics by 5,000.9% in the second quarter. OxFORD Asset Management LLP now owns 1,809,024 shares of the offshore driller’s stock worth $14,744,000 after buying an additional 1,773,559 shares during the last quarter. Finally, FMR LLC raised its position in Atwood Oceanics by 18.0% in the first quarter. FMR LLC now owns 11,470,032 shares of the offshore driller’s stock worth $109,309,000 after buying an additional 1,750,720 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.
About Atwood Oceanics
Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.
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